SAP empowers youth in India to be innovators and entrepreneurs

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sapBill McDermott, CEO, SAP SE addresses students

Announces Innovation and Entrepreneurship center to support 30 Indian start-ups and upskill 2,000** teachers at IIT Bombay

Mumbai, 18th March 2016: SAP SE (NYSE: SAP) today announced an initiative to support start-ups in India and train teachers in collaboration with The  Indian Institute of Technology Bombay (IIT Bombay), India’s leading university. SAP will partner with two different programs: the Entrepreneurship Development Initiative* and The ‘Train 10,000 Teachers’ Programme (T10KT)** – a STEM education initiative.

In conjunction with the incubator center at IIT Bombay, SAP aims to strengthen the entrepreneurship ecosystem and fosterscalable high growth social enterprises. This collaboration will augment a knowledge and innovation driven culture across India, while further strengthening the entrepreneurship ecosystem and facilitating networking with professional resources, mentors and funders.

“I’m always inspired by the ambition and determination of this young generation in India,” said Bill McDermott, CEO of SAP. “I’m especially pleased that SAP is partnering with IIT Bombay to help students build sustainable career paths in this global economy. Initiatives like this one are critical to help students realize their bold dreams by bridging the classroom to the workplace.”

SAP also announced a STEM education initiative that will support the training of around 2,000 teachers across India.  The teachers will be trained in science, technology, engineering subjects, and information and communication technologies. SAP has teamed up with T10KT** to work with engineering colleges in the country to enhance teaching skills in core engineering and Science subjects.

Prof. Subhasis Chaudhuri, Acting Director, IIT-Bombay stated that “IIT Bombay is committed to help improve college education in India. Our partnership with SAP will enable us to scale up this initiative and address critical unmet needs. In association with SAP, we also look forward to further enrich our entrepreneurial ecosystem. I am confident that working together, SAP and IIT Bombay can make a long-term difference.”

For SAP, which has operated for 20 years in India, this initiative is in tune with its goal of accelerating growth and tapping into the enormous potential of India’s entrepreneurial culture. This initiative also fits well with the Indian government’s vision of developing local skills.

*Society for Innovation and Entrepreneurship (SINE) at IIT-B manages a technology business incubator to Promote and foster the spirit of entrepreneurship. SAP’s collaboration will involve SINE to help pre-incubate, incubate and virtually incubate early stage entrepreneurial technology-based ventures and create infrastructure support systems necessary for business incubation.

** The ‘Train 10,000 Teachers’ (T10KT), an initiative under MHRD, Government of India, is an interactive social environment communicated through the internet, for e-learning and to deliver and transmit live lectures given by the IIT faculty across all remote centers. Through this partnership, SAP has committed to upskill 2,000 teachers across the country.

About SAP

As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable approximately 300,000 customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com

About IIT-B

Founded in 1958, IIT Bombay is an Institute of National Importance in India providing instruction and research in various branches of engineering, technology, sciences and arts for the advancement of learning and dissemination of knowledge in such branches. IIT Bombay has nearly 600 full-time faculty members and over 10,000 students.